FindLaw Legal Dictionary

The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries.

Purchase

purchase vb

pur·chased
pur·chas·ing
vt
1 : to acquire (real property) by means other than descent or inheritance
2 : to obtain by paying money or giving other valuable consideration
;specif
: to take (property) by a voluntary transaction (as a sale, mortgage, pledge, lien, or gift) that creates an interest and that is governed by the Uniform Commercial Code see also bona fide purchaser
vi
: to purchase something
pur·chas·able adj

pur·chas·er n

n : an act or instance of purchasing: as
a : the acquiring of real property by any means other than descent or inheritance
b : the acquiring of an interest in property esp. in exchange for valuable consideration see also word of purchase


Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.